The Long & Foster Market Minute

Focus On: Severna Park Housing Market December 2019

Zip Code(s): 21146
Units Sold
28
Active Inventory
51
Median Sale Price
$547,500
Days On Market
74
Up 33%
Vs. Year Ago
Down -56%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 28 sold this month in Severna Park Real Estate versus 37 last month, a decrease of 24%. This month's total units sold was higher than at this time last year, an increase of 33% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 56%. The total number of active inventory this December was 51 compared to 117 in December 2018. This month's total of 51 is lower than the previous month's total supply of available inventory of 74, a decrease of 31%.

Median Sale Price
Last December, the median sale price for Severna Park Homes was $519,000. This December, the median sale price was $547,500, an increase of 5% or $28,500 compared to last year. The current median sold price is 7% higher than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
17
Current Contracts
19
Sold Vs. List Price
98.9%
Months of Supply
1.8
Down -19%
Vs. Year Ago
No Change
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -67%
Vs. Year Ago

Months of Supply
In December, there was 1.8 months of supply available in Severna Park, compared to 5.6 in December 2018. That is a decrease of 67% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 17 homes newly listed for sale in Severna Park compared to 21 in December 2018, a decrease of 19%. There were 19 current contracts pending sale this December, consistent with the volume a year ago. The number of current contracts is 27% lower than last month.

Sale Price to List Price Ratio
In December, the average sale price in Severna Park was 98.9% of the average list price, which is 2.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 74, lower than the average last year, which was 85, a decrease of 13%.

The Long & Foster Market Minute Severna Park are defined as properties listed in zip code/s 21146.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.